Cleared of Ethics Charges, Maxine Waters Ready to Write Bank Laws

The last time we met “This Old Socialist,” Congresswoman Maxine Waters, (D-Delusional), she was being probed for “ethics violations,” which is fed-speak for “things for which you and I go to jail, but which is legal for congress.”

Waters, then, was gamely trying to vie for a leadership position on the Financial Services Committee despite a dogged investigation regarding her finances and influence peddling that had dragged out for months. She was doing so in the wake of the announcement that the committee’s ranking Democrat, Barney Frank (D-Dope) (pun intended) was leaving congress to fulfill his lifelong dream of getting married to a surfer/marijuana dealer. Or was that a marijuana dealer/surfer?

Anyway, Frank had already realized one dream when he covered the banking and financial industry with a fresh layer of federally-subsidized, regulatory dirt that we call the Dodd–Frank Wall Street Reform and Consumer Protection Act (ha!), the newest regulatory scheme that has screwed up a good country.

But as Frank goes off to greener pastures, now imagine this: the Dodd-Frank and…Waters Wall Street Shakedown and Consumer Ruination Act.

Because gone are the days when it seemed that either Waters would decline the position Frank was occupying (pun intended) as ranking member or face ethics charges stemming from, um, doing stuff that would ruin the rest of us.

Maxine will not now face any charges from any of the previous allegations that were being investigated by congress, to wit: Maxine apparently has paid family members close to $1 million from public or campaign funds since 2007, according to a recent report by Citizens for Responsibility and Ethics in Washington (CREW). In 2005, 2006, 2009 and 2011 she was named to CREW’s Most Corrupt politician list.

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at WealthEd.com or on Comcast Cable.

Business News

Contact Us

About Townhall Finance

TownhallFinance.com makes available to the viewer a variety of independent sources that offer trading and investment advice and related services and products.

TownhallFinance.com does not itself offer, verify, sponsor, or promote, directly or indirectly, any investment or trading advice, or information or any product or service offered by these independent sources.

Every investor or trader should consider all advice and all offerings of products and services on their own merits and for suitability to the individual's personal needs and circumstances. Before using this site, please read our complete Terms of Service by clicking here.

Make TownhallFinance.com your premier source for stock market and financial market information. Individual investors enjoy our worldwide investor seminars and trading seminars. Our investment advisor seminars keep financial advisors up to data with CEUs, and this site provides investors, traders, and advisors with the latest stock market analysis tips, information and research tools. Be sure to be a part of our options day trading tips and picks from professional day traders and various trading, investing and advisor Webcasts and financial podcasts.